We'll_live_and_die
Super Moderator
Pip = Percentage in points.
For example: GBP (That's the Great British Pound) verses USD (US Dollar).
Currently at say 1.6196. For every time it moves up/down one number it's a pip. I.E 1.6197 OR 1.6195.
Now if you an account in USD then the amount you gain or lose is 10 US cents that stands fixed. If though you open an account in Pounds then the gain or loss can vary I.E 6p, 6.1p or 5.9p depending on what it's trading at.
As simple as this may all be, without someone sitting down and showing me, I just can't get my head around it all as much as I would love to.